The Myths and Realities of China’s Digital Currency

A bank window panel displaying the security markers on the latest 100 Yuan notes in Beijing, China, Feb. 18, 2019 (AP photo by Andy Wong).
A bank window panel displaying the security markers on the latest 100 Yuan notes in Beijing, China, Feb. 18, 2019 (AP photo by Andy Wong).

Since last year, authorities in China have been conducting pilot programs for the country’s new digital currency. The project, which Beijing has been researching since 2014, is an example of what’s known as a central bank digital currency, which a number of other countries are experimenting with, but few of them are at as advanced a stage as China. A top official at China’s central bank recently expressed hope that the digital yuan would be ready for testing with foreign visitors and athletes during the 2022 Winter Olympics in Beijing. Beijing’s progress on its digital currency has led some commentators […]

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